National Energy Services Reunited Corp. (NESR) announced that the Company has been awarded a long-term, Wireline Services (Wireline) platform contract in Saudi Arabia, which greatly expands the scope of services provided over a nine (9) year contract term.
Within the expanded scope of the contract, NESR will now provide advanced Cased-Hole & perforation services, in addition to the broad suite of services currently performed.
This contract gives NESR the opportunity to introduce & showcase innovative technologies within the Wireline product line that span the well construction and production value chain.
The NESR Wireline business has grown successfully in multiple countries over the Company’s history and has now a solid presence, especially in Egypt & Iraq in addition to the Kingdom.
NESR CEO & Chairman Sherif Foda commented, “Ongoing enhancement of our technology portfolio is a key growth pillar that encompasses all of our product and service lines, and this anchor Wireline contract in Saudi further highlights our strategy of technology diversification on top of leading execution and service delivery. This contract allows us to expand the scope of services provided, and since wireline is a particularly technology-rich segment within energy services, there is substantial potential for this expansion of scope. I want to thank Aramco for their trust and their collaborative support of our burgeoning Wireline portfolio, part of which we plan to highlight alongside the anticipated opening of the NESR Oilfield Research Center (NORI) in Dharan Techno Valley in early 2023.”